Peabody says Shoal Creek fire won’t impact 2023 results
Top US coal producer Peabody Energy has managed to seal off two longwall panels in the area of the Shoal Creek mine, which was impacted by a fire in March and has begun the process of resuming development coal production in a new area that should have better mining conditions.
Shoal Creek is in a ramp-up period throughout 2023 and a new longwall kit is expected by the end of the year, the NYSE-listed company says.
“Peabody does not expect the current incident to have a material impact on the company’s 2023 financial results,” says the coal miner.
Shoal Creek is a production-stage underground longwall metallurgical coal mine west of Birmingham.
The mine extracts coal from the Mary Lee and Blue Creek coal seams at depths of 1 000 to 1 300 feet.
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